FX & Currencies
OneGram and GoldGuard Partner to Create World’s First Sharia-Compliant, Gold-Backed Digital Currency
11 May 2017
OneGram and GoldGuard Partner to Create World’s First Sharia-Compliant, Gold-Backed Digital Currency
MAY 3, 2017 — DUBAI — Islamic financial services and technology company OneGram (www.onegram.org) and GoldGuard (www.goldguard.com) today announced the world’s first completely gold-backed digital currency, with each token representing one gram of gold held at a vault inside of the Dubai International Airport. The Islamic financial sector is responsible for managing 1 percent of the global GDP, and is growing at nearly 20 percent per year. With more than 2 billion Muslims worldwide, OneGram provides a Sharia-compliant method to keep gold in a digital format, making it both secure and transferable on a global scale.
Gold’s resiliency, particularly during economic instability, limits exposure to risk for investors. OneGram’s transaction fees will be reinvested to buy more gold, increasing the amount of gold that backs each token. As transaction volume increases, more gold will be added to the vault and all OneGram investors will share the profit. As such, OneGram will offer increasing value to investors, and open doors for Muslims to participate in the digital currency economy.
“In recent years, the Middle East has seen incredible growth in fintech innovations including digital tokens and smart contracts,” said Ibrahim Mohammed, the CEO of OneGram. “With OneGram, we’re excited to provide an opportunity for investors who care about Islamic financial markets and the security of commodity-backed investments to benefit from rapid technological advances in the blockchain industry.”
OneGram is a fully customized, unique proof-of-stake coin with over six months of development. Spawning from Bitcoin, developers further anonymized the blockchain by employing zero-knowledge, dual-key stealth address and ring signature protocol enabling instant, untraceable, unlinkable, trustless transactions. Starting on May 8, participants will be able to register at GoldGuard to buy gold from most countries by showing their passport and providing other information, as well as initiating payment by wire or Bitcoin.
A total of 12,400,786 OneGramCoin tokens (OGC) will be sold between May 21st and September 22nd and will be available for purchase on GoldGuard’s website. This is the most ambitious crowdsale goal in blockchain history with a goal of raising more than $500 million. At the current spot price of gold, a sold out crowdsale would raise $554,910,372.
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ABOUT ONEGRAM
Headquartered in Dubai, OneGram is a financial services company using blockchain technology to create a new kind of digital token, where each coin is backed by one gram of gold at launch. OneGram’s token, OGC, is the first Sharia-compliant digital currency, opening doors for the Islamic financial world to participate in the blockchain economy. For more information, please visit www.onegram.org
Media Contact: onegram@transform.pr
